KSM has been going strong in a bullish channel for quite some time now, but steam is starting to run out, with more and more selling pressure at the higher price ranges. There isn't much buying pressure either, so it will probably have a retracement before some more upside.
Expect KSM to go up a little more until we hit a local top (probably won't reach the top of the bullish channel) and start retracing downwards. We can see this from the RSI topping out and also the shrinking of green candles. If true, we can expect a retracement until around $420 and below, which would be a good time to buy in. We can then take profit near the ATH.
Of course, while unlikely, there's a possibility that KSM can betray all expectations and continue following the bullish channel. If you're holding KSM, it might be prudent to watch closely for signs of a reversal to sell and buy in at a lower price. If you're not holding KSM, it's too risky to buy in now, so don't FOMO and wait for a retracement or just let it go.
Expect KSM to go up a little more until we hit a local top (probably won't reach the top of the bullish channel) and start retracing downwards. We can see this from the RSI topping out and also the shrinking of green candles. If true, we can expect a retracement until around $420 and below, which would be a good time to buy in. We can then take profit near the ATH.
Of course, while unlikely, there's a possibility that KSM can betray all expectations and continue following the bullish channel. If you're holding KSM, it might be prudent to watch closely for signs of a reversal to sell and buy in at a lower price. If you're not holding KSM, it's too risky to buy in now, so don't FOMO and wait for a retracement or just let it go.
Comment:
KSM did indeed do a local top at around $493 and is retracing a little, which is healthier in the long run. Selling pressure is very high now compared to buying pressure, expect a drop to the Fibonacci support at $443. Here, we can buy in again or wait for signs for a further drop to $416.
Comment:
KSM bounced off bullish channel resistance again. Buying and selling pressures are equalizing around Fibonacci support level at around $445. Expect a bullish reversal from here.
Comment:
Buying pressure remains very weak. Strong selling pressure at the $457 - $460 level. Seems like it will be difficult for the price to go up at this point. Possible retracement back down to lower support levels.
Comment:
KSM is forming a W pattern after bouncing off bullish channel's resistance again. However, there is still strong selling volume around >$456. We'll see if KSM tries to keep support at ~$445.
For less risk, wait for KSM to breakout of the local wedge around $466 and find support before confirming a bullish sentiment.
For less risk, wait for KSM to breakout of the local wedge around $466 and find support before confirming a bullish sentiment.
Comment:
KSM broke out of the bullish channel on the downside. Expecting further retracement or consolidation for now. Too risky to trade this one until we get a clearer price signal.
Trade closed manually:
Closed for now, waiting for better price signals for KSM.